7) The cost of producing x teddy bears per day at the Cuddly Companion Co....
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Accounting
7)
The cost of producing x teddy bears per day at the Cuddly Companion Co. is calculated by their marketing staff to be given by the formula
C(x) = 100 + 41x 0.04x2.
(a)
Find the marginal cost function C'(x).
C'(x) =
Use it to determine how fast the cost is going up (in $) at a production level of 100 teddy bears.
$__________ per teddy bear
Compare this with the exact cost of producing the 101st teddy bear (in $).
The cost is increasing at a rate of $ _________ per teddy bear. The exact cost of producing the 101st teddy bear is $__________ . Thus, there is a difference of $__________ .
(b)
Find the average cost function
C,
and evaluate C(100) (in $).
C(x)=
C(100)= $___________ per teddy bear
What does the answer tell you?
The average cost of producing the first hundred teddy bears is $_______ per teddy bear.
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